TPS - Short Sale Processing Blog

Services for Real Estate Pros
We've found in certain circumstances that it is wise for Brokers and their Agents to pass on a listing opportunity when the sale would require a short payoff. Here are a few: 1. 30 days or less until the Trustee Sale Date. 2. Seller(s) have not filed their tax returns 3. Junior lien is a recourse loan with a different bank than the senior lien holder 4. Seller cannot demonstrate financial hardship 5. Seller is in bankruptsy These and other reasons could proclude your listing from closing, so be selective.



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    In the Fourth Judicial Circuit Court in Duval County Florida in a court case of JP Mortgage Chase Bank versus two homeowners willing to defend their position, the court found JP Mortgage Chase, Washington Mutual Bank and their attorneys guilty of presenting false assignments of mortgage so th...
Homeowner Gets Deed of Trust Voided, Promissory Note Rescinded and Financial Damages Award in Federal Court against Chase in Orange County, California For those who haven't heard of one of the victories that one homeowner just won against a bank trying to foreclose on a house, Paul Nguyen took it...

Julie Fontaine

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5 Circumstances Where Brokers and Agents Should Not Take A Short Sale Listing